Dive Brief:
- Nike innovation chief Tony Bignell is leaving the company “to pursue his creative and philanthropic passions,” a Nike spokesperson confirmed to Retail Dive Friday. He was in the role for less than a year.
- Twenty-year Nike veteran Andy Caine took over the position Sunday and will report to Chief Innovation, Design and Product Officer Phil McCartney. Caine was previously the vice president and creative director of Nike Sportswear.
- As innovation chief, Caine is responsible for guiding innovation across the company’s portfolio of brands, sports, products and platforms. He has already been responsible for innovative products across the Mercurial line, as well as the Air VaporMax, Air Liquid Max and Air Max 1000 releases.
Dive Insight:
After a disappointing fourth quarter, Nike is shaking up more of its leadership team. This time, a longtime veteran is leaving less than 12 months after taking on his new role.
BNP Paribas Equity Research senior analyst Laurent Vasilescu called Bignell’s departure “a real surprise” given his first full assortment hasn’t even hit the market yet.
“All turnarounds are led by a new product innovation cycle,” Vasilescu said in emailed comments. “His abrupt departure would suggest to us that retailers did not respond well to the product assortment showcase designed by Tony Bignell.”
More than that, though, the departure of Bignell cements a trend of ongoing leadership turnover under CEO Elliott Hill. Last June, a Nike spokesperson said Hill was done building out his team, but executive level changes have continued.
In December, Nike cut its chief technology officer and chief commercial officer roles, and elevated its four regional leaders to the leadership team. About a month later, the company replaced two of those regional leaders, including the head of Greater China, Angela Dong.
According to Vasilescu, these changes signal a turnaround may be further away than previously thought.
“With Tony Bignell's abrupt departure, we are starting to see a trend of departures after certain individuals had their roles elevated,” Vasilescu wrote. “For example, Craig Williams’ title was changed last summer to Chief Commercial Officer and he became the second highest-paid executive per the proxy. Then he abruptly left.”
Vasilescu called out a similar dynamic with Dong’s departure from the all-important China region, noting that her replacement came from the Asia Pacific and Latin America region, which is “a very different market.”
Nike, for its part, highlighted that Caine is well-respected in the industry and knows how to balance current demands with future innovations. The company praised his creative vision and dedication to athletes and said the move provides continuity in addition to fresh design thinking.
